Brazil Hails U.S. Rollback on Tariffs as a Positive Move

Brazil's Vice President Geraldo Alckmin praised the U.S. decision to reduce tariffs on over 200 products from Brazil. The move reverses an earlier hike to 50% in August. Brazilian officials, including Foreign Minister Mauro Vieira, are negotiating further reductions with U.S. counterparts for improved trade relations.

Brazil's Vice President Geraldo Alckmin lauded the United States' recent move to reduce tariffs on over 200 Brazilian products, signaling a shift from the 50% hike implemented in August.

Brazil, a leading exporter of coffee, beef, and orange juice, stands to benefit from this decision, which Alckmin described as a step in the right direction during a press conference in Brasilia.

Despite the reduction, a significant portion of Brazilian exports still faces elevated tariffs. Ongoing negotiations spearheaded by Brazilian Foreign Minister Mauro Vieira and U.S. Secretary of State Marco Rubio aim to further ease these trade barriers. The Trump administration's recent trade deal announcements indicate potential future reductions.

(With inputs from agencies.)